Showing 1 - 10 of 2,460
Persistent link: https://www.econbiz.de/10011376700
Persistent link: https://www.econbiz.de/10010232592
Persistent link: https://www.econbiz.de/10011556892
Persistent link: https://www.econbiz.de/10011717277
Persistent link: https://www.econbiz.de/10012061432
Persistent link: https://www.econbiz.de/10011945590
This paper shows that, for CEU preferences, the axioms consquentialism, state independence and conditional certainty equivalent consistency under updating characterise a family of capacities, called Genralised Neo-Additive Capacities (GNAC). This family contains as special cases among others...
Persistent link: https://www.econbiz.de/10003893438
We present a non-technical account of ambiguity in strategic games and show how it may be applied to economics and … social sciences. Optimistic and pessimistic responses to ambiguity are formally modelled. We show that pessimism has the … ambiguity on peace-making are examined. It is shown that ambiguity may select equilibria in coordination games with multiple …
Persistent link: https://www.econbiz.de/10003592769
We study the impact of ambiguity on two alternative institutions of financial intermediation in an economy where … consumers face uncertain liquidity needs. The ambiguity the consumers experience is modeled by the degree of confidence in their … with high liquidity needs. With increasing ambiguity this preference will be reversed: the asset market is preferred, since …
Persistent link: https://www.econbiz.de/10003592776
Ambiguity refers to a decision situation under uncertainty when there is incomplete information about the likelihood of … ambiguity and ambiguity aversion. …
Persistent link: https://www.econbiz.de/10003592835